PUBLISHER: The Business Research Company | PRODUCT CODE: 1413988
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413988
“Airport Robots Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on airport robots market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for airport robots? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The airport robots market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Airport robots are specifically designed devices deployed to perform diverse duties within an airport setting, encompassing tasks such as assisting travelers with their baggage, providing information and directions, and conducting security checks. These robots serve various functions, including towing airplanes, offering passenger assistance, handling baggage, and fulfilling other applications.
The primary classifications of airport robots are humanoid and non-humanoid. Humanoid robots bear a resemblance to humans in appearance and are programmed to execute tasks typically performed by humans. These robots find applications in various airport functions, including security tasks, scanning boarding passes, managing baggage handling systems, guiding passengers, and catering to other end-users in areas such as landside and terminal operations.
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The airport robots market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth observed in the historical period can be ascribed to several factors, including the early adoption of robotics, a rise in passenger traffic, a focus on improving efficiency and productivity, the implementation of enhanced safety measures, and initiatives aimed at cost savings.
The airport robots market size is expected to see rapid growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The anticipated growth in the forecast period can be attributed to the expansion of passenger traffic, increased automation for efficiency, widespread adoption of AI and machine learning, initiatives for cost reduction, and collaborative efforts with airlines and airports. Key trends expected in the forecast period encompass the enhancement of passenger experience, the deployment of sanitization and cleaning robots, automation in baggage handling, the utilization of security and surveillance robots, and the implementation of contactless services.
The anticipated rise in automation within airports is poised to significantly enhance the growth of the airport robots market in the future. Automation, characterized by the development and implementation of technology to produce and deliver goods and services with minimal human interaction, is revolutionizing various tasks that were traditionally performed manually. Airport robots, integral to this automation technology, contribute to the efficiency and reliability of tasks performed within airports. These robots execute tasks with increased accuracy and speed, thereby improving the overall passenger experience. In April 2023, SITA, a Switzerland-based information technology company in the air transport industry, reported in its 2022 Airport IT Insights Survey that there has been a surge in investments in information technology for digitalization and automated technologies at airports. The estimated spending in 2022 reached $6.8 billion, representing an increase from 4.66% of revenue in 2021 to 4.73% in 2022. Consequently, the escalating automation in airports is a key driver behind the growth of the airport robots market.
The increasing number of air travel passengers is also expected to contribute significantly to the expansion of the airport robots market in the foreseeable future. Air passengers, individuals traveling by air on commercial airlines or private aircraft for various reasons, benefit from the pivotal role played by airport robots in enhancing their overall travel experience. These robots provide efficient and contactless services, including delivering goods directly to gates and streamlining processes. In March 2023, the Bureau of Transportation Statistics, a US-based government agency, reported a 30% increase in the number of passengers carried by American airlines, rising from 658 million in 2021 to 853 million in 2022. This substantial growth in air travel passengers underscores the importance of airport robots in meeting the rising demand and further propels the growth of the airport robot market.
The predominant trend in the airport robot market is the widespread adoption of Artificial Intelligence (AI), with major companies striving to develop cutting-edge technologies to maintain their market positions. A notable example is Secom Co. Ltd., a Japan-based security service provider, which, in January 2022, introduced Cocobo, a security robot leveraging advanced technologies such as AI and 5G. Cocobo offers various services, including patrols and inspections, and operates autonomously along predefined paths, intelligently avoiding obstacles and people. Notably, it can conduct patrols in multi-story spaces, is integrated with lifts, and features waterproof capabilities, enabling outdoor patrols in all weather conditions.
Major companies in the airport robot market are increasingly focusing on innovative delivery robots. Ottobot 2.0, launched by Ottonomy.IO, a US-based robotics company in September 2022, represents a noteworthy example. Deployed at Rome Fiumicino International Airport (FCO), Ottobot 2.0 is the first fully autonomous delivery robot. As part of Aeroporti di Roma's (ADR) strategy to enhance the customer experience through technology and innovation, passengers can seamlessly purchase food and retail items by scanning a QR code, with delivery directly to their gate. ADR's initiative aligns with its commitment to providing top-notch services and enriching passengers' experiences through cutting-edge technology.
In April 2021, United Robotics Group GmbH, a Germany-based distributor of service robots, made a strategic acquisition by purchasing Softbank Robotics Europe for an undisclosed amount. This move allows United Robotics Group to expand its product portfolio and offer customers a broader range of robots. Leveraging Softbank Robotics Europe's expertise in humanoid robots, United Robotics Group aims to capitalize on the increasing demand for robotics across various industries. Softbank Robotics Europe, a subsidiary of Softbank Robotics Corp based in France, specializes in the development and manufacturing of humanoid robots, contributing to the evolving landscape of service robotics.
Major companies operating in the airport robots market report are ABB Ltd., Avidbots Corp., Cyberdyne Inc., ECA Group, LG Corporation, SITA, SoftBank Group Corp., UVD Robots, Advanced Navigation and Positioning Corporation, Elenium Automation Pty Ltd., Fives Group, GreyOrange Pte. Ltd., Honeywell International Inc., NEC Corporation, Secom Co. Ltd., Vanderlande Industries B.V., Stanley Robotics, YUJIN ROBOT Co. Ltd., Aero Sentinel, Airport Robotics, Omron Corporation, RoboCV LLC, Aviabotics, Blue Ocean Robotics, Boston Dynamics, Clearpath Robotics, Simbe Robotics, F Robotics AG, Incheon International Airport Corporation, Knightscope
North America was the largest region in the airport robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global airport robot market report during the forecast period. The regions covered in the airport robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the airport robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The airport robots market consists of revenues earned by entities by providing passenger guidance services, language translation services and personal assistance services. The market value includes the value of related goods sold by the service provider or included within the service offering. The airport robots market also includes sales of automated tug, greeter devices, valet cars, and cleaning robots which are used in providing airport robot services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.